Bulgaria May Reach EU - Level Minimum Wages in 41 Years - Study

Bulgaria in EU | August 27, 2011, Saturday // 16:45|  views

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Bulgaria will need 41 years to reach the minimum wage rates of EU's most advanced countries, according to a study conducted in the Sofia-based University of National and World Economy.

Currently, the minimum wage in Bulgaria is BGN 289, or nearly half of the amount of money deemed by the country's National Statistical Institute as necessary for an individual to survive a month in "normal" conditions – BGN 528 (approximately EUR 271).

In order for Bulgaria to reach the minimum wage level of other Eastern European countries like Slovakia and Slovenia, it would need 27 years, but only if its minimum wage increases with 5% each year and countries in question do not change their own ones.

Under the same conditions, the Balkan state will reach Portugal and Greece in 38 years in terms of minimum wages.

To catch up with France, The Netherlands and Ireland, Bulgarian would have to wait nearly 41 years, the study concludes. Some 10 national governments and 8 presidents would have come and gone before the goal is reached, the Bulgarian Nova TV has pointed out.

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Tags: minimum wage, EU, Eastern European, Bulgaria

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